This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity markets remain in a festive mood, with gains in Europe – albeit slim- the UK Index at fresh highs and futures suggesting a positive start for Wall St. Catalonian regional elections may have delivered another awkward pro-independence message for PM Rajoy in Madrid, but as has been the case for the last year, if not longer, investors are happy to keep looking past geopolitical risk. Think of all we’ve seen and heard. And look at where we are. A roller coaster it may have been, but we’re thicker skinned for it and nursing handsome gains. Might 2018 deliver more of the same?
The UK UK Index is at fresh highs, led by defensives (AZN, RB, DGE, BATS) all trying to build on recent rebounds, helped by a slightly weaker GBP while RDSb benefits from continued oil price stability around recent highs. At the tail end, holding the index back, are the likes of GSK, BARC and BP all also suffering from pre-Christmas profit taking. On Germany’s DAX it’s a similar story with defensive Utilities (RWE/E.ON) leading while ThyseenKrupp (bows to worker demand for merger), ProSieben, Commerzbank and Deutsche Post lose ground.
The UK Index 100 has extended today’s rebound to fresh highs. The DAX 30 is holding onto rising support at 13040. Dow Jones Futures are flat at 24790, consolidating recent gains. Gold continues its slow push north, closing in on $1270.
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The UK Index 100 has extended today’s rebound to fresh highs.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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The DAX 30 is holding onto rising support at 13040, although beware the risk of a bullish flag lower
Watch levels: Bullish 13,105; Bearish 13,025
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures are flat at 24790, consolidating recent gains. Although that could always be a bullish flag to yet another fresh record…
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold continues its slow push north, closing in on $1270.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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